Bonds, rupee weaken as Fed tone sparks outflow concerns
The Hindu
U.S. central bank says interest rate increase likely in March
Indian bond yields spiked while the rupee struck a one-month low on Thursday on concerns of potential outflows after the Federal Reserve delivered a more-hawkish-than-expected update, saying a U.S. interest rate increase was likely in March.
The Fed also reaffirmed plans to end its bond purchases around the same time, calling time on a long phase of easy money. India’s benchmark 10-year bond yield rose 7 basis points to 6.73%, its highest level since December 19, 2019. Bond yields rise when prices fall.
So far in January, foreign investors have dumped $2.2 billion of Indian shares after having bought a net $3.76 billion in 2021. They had bought $23.29 billion worth shares in 2020 and $14.23 billion in 2019. They are still, net buyers of $575.35 million worth debt so far this month after having sold $3.66 billion in 2021.

GCCs keep India’s tech job market alive, even as IT services industry embarks on a hiring moratorium
Global Capability Centres, offshore subsidiaries set up by multinational corporations, mostly known by an acronym GCCs, are now the primary engine sustaining India’s tech job market, contrasting sharply with the hiring slowdown witnessed by large firms in the country.

Mobile phones are increasingly migrating to smaller chips that are more energy efficient and powerful supported by specialised Neural Processing Units (NPUs) to accelerate AI workloads directly on devices, said Anku Jain, India Managing Director for MediaTek, a Taiwanese fabless semiconductor firm that claims a 47% market share India’s smartphone chipset market.

In one more instance of a wholly owned subsidiary of a Chinese multinational company in India getting ‘Indianised’, Bharti Enterprises, a diversified business conglomerate with interests in telecom, real estate, financial services and food processing among others, and the local arm of private equity major Warburg Pincus have announced to collectively own a 49% stake in Haier India, a subsidiary of the Haier Group which is headquartered in Qingdao, Shandong, China.










